Four Decades for Justice
Cravath has significant experience advising developers, operators, owners, investors and lenders around the world on sophisticated transactions and complex disputes in the real estate and hospitality industries.
We advise our real estate and hospitality clients on a broad range of matters, including acquisitions; dispositions; joint ventures; environmental, social and governance (“ESG”) issues; antitrust litigation and advice; complex contract and commercial disputes; investigations; shareholder derivative actions; financings; and restructurings. Our lawyers also handle matters involving REITs and major domestic and international real estate investment funds.
Cravath’s experience spans the full spectrum of real estate and hospitality companies, from local operators to multinational corporations, as well as asset classes, including building and construction, commercial, residential, industrial and recreational properties in addition to hotels, casinos, restaurants and resorts.
We advise our real estate and hospitality clients on a broad range of matters, including acquisitions; dispositions; joint ventures; environmental, social and governance (“ESG”) issues; antitrust litigation and advice; complex contract and commercial disputes; investigations; shareholder derivative actions; financings; and restructurings. Our lawyers also handle matters involving REITs and major domestic and international real estate investment funds.
Cravath’s experience spans the full spectrum of real estate and hospitality companies, from local operators to multinational corporations, as well as asset classes, including building and construction, commercial, residential, industrial and recreational properties in addition to hotels, casinos, restaurants and resorts.
Deals & Cases
March 15, 2024
Cravath represented SEGRO plc in connection with its private placement of approximately £907 million of new ordinary shares. SEGRO plc is a UK Real Estate Investment Trust (“REIT”) and a leading owner, manager and developer of modern warehouses and industrial property. The shares will be listed on the London Stock Exchange and Euronext Paris. The transaction closed on March 1, 2024.
Deals & Cases
March 08, 2024
Cravath represented the underwriters in connection with the $500 million registered senior notes offering of CBRE Services, Inc., a direct wholly‑owned subsidiary of CBRE Group, Inc. CBRE is the world’s largest commercial real estate services and investment firm, based on 2022 revenue. The transaction closed on February 23, 2024.
Deals & Cases
November 13, 2023
On November 9, 2023, Altus Group Limited (“Altus Group”), a leading provider of asset and fund intelligence for commercial restate, announced it has signed a definitive agreement to acquire the commercial real estate valuation and advisory services business of Situs Group LLC (a SitusAMC Company) for $225 million in cash. Cravath is representing Altus Group in connection with the transaction.
Deals & Cases
August 08, 2023
On August 8, 2023, AG Mortgage Investment Trust, Inc. (“MITT”), a publicly traded residential mortgage REIT managed by AG REIT Management, LLC, an affiliate of Angelo, Gordon & Co., L.P., a leading alternative investment firm, and Western Asset Mortgage Capital Corporation (“WMC”), a real estate investment trust, announced that they have entered into a definitive merger agreement, following WMC’s termination of its previously announced acquisition agreement with Terra Property Trust, Inc. in accordance with the terms of such agreement. Pursuant to the agreement MITT will acquire WMC in a fixed exchange ratio stock/cash transaction. Cravath is representing MITT in connection with matters related to the merger.
Deals & Cases
July 31, 2023
Cravath represented the administrative agent, joint lead arranger and joint bookrunner, in connection with a $500 million revolving credit facility made available to TripAdvisor, Inc., TripAdvisor Holdings, LLC and TripAdvisor LLC. TripAdvisor, Inc. operates as an online travel company and primarily engages in the provision of travel guidance products and services worldwide. The transaction closed on June 29, 2023.
Firm News
August 14, 2023
Between July 28 and August 11, 2023, Cravath advised on nine announced deals, including seven deals in a span of three business days. Cravath is representing:
Accolades
June 06, 2023
On May 21, 2023, Cravath partner Philip J. Boeckman was named to Financial News’ third annual “Fifty Most Influential Lawyers” list, which recognizes “the leading legal minds working in Europe on corporate deals.” The feature described Philip as having “a long and successful track record advising clients on initial public offerings, leveraged financings and other equity offerings.” The publication also highlighted his representation of HDFC Bank as U.S. counsel in its $40 billion merger with HDFC Limited, India’s largest‑ever M&A deal at the time of announcement, and of the European Investment Bank in its $4 billion registered notes offering of a Sustainability Awareness Bond.
Accolades
March 27, 2023
On March 16, 2023, Cravath was recognized by the India Business Law Journal in its “Deals of the Year 2022” feature, which highlighted “the standout deals and disputes of 2022 and the law firms that showed their worth in successfully concluding them.”
Accolades
January 20, 2023
On January 18, 2023, Cravath was featured by Law360 as an “M&A Practice Group of the Year,” receiving the distinction for the tenth time in twelve years. The profile highlighted the Firm’s role representing CyrusOne in its $15 billion acquisition by KKR and Global Infrastructure Partners, SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation, and Johnson & Johnson in the planned separation of its Consumer Health Business.
Accolades
August 11, 2022
On August 5, 2022, the India Business Law Journal named Cravath among the “Significant Players” in its 2022 ranking of the top international law firms for India‑related work. The publication noted that the Firm is “consistently at the forefront of prestigious and landmark deals,” and highlighted its representation of HDFC Bank Limited in its $40 billion merger with HDFC Limited, India’s largest‑ever M&A deal at the time of announcement. The Firm was also recognized for its representation of Viatris in the $3.335 billion combination of its biosimilars portfolio with Biocon Biologics. An interviewee noted the Firm’s teams are “approachable” and “give well‑articulated, clear and easy to understand legal opinions.”
Deals & Cases
March 15, 2024
Cravath represented SEGRO plc in connection with its private placement of approximately £907 million of new ordinary shares. SEGRO plc is a UK Real Estate Investment Trust (“REIT”) and a leading owner, manager and developer of modern warehouses and industrial property. The shares will be listed on the London Stock Exchange and Euronext Paris. The transaction closed on March 1, 2024.
Deals & Cases
March 08, 2024
Cravath represented the underwriters in connection with the $500 million registered senior notes offering of CBRE Services, Inc., a direct wholly‑owned subsidiary of CBRE Group, Inc. CBRE is the world’s largest commercial real estate services and investment firm, based on 2022 revenue. The transaction closed on February 23, 2024.
Deals & Cases
November 13, 2023
On November 9, 2023, Altus Group Limited (“Altus Group”), a leading provider of asset and fund intelligence for commercial restate, announced it has signed a definitive agreement to acquire the commercial real estate valuation and advisory services business of Situs Group LLC (a SitusAMC Company) for $225 million in cash. Cravath is representing Altus Group in connection with the transaction.
Deals & Cases
August 08, 2023
On August 8, 2023, AG Mortgage Investment Trust, Inc. (“MITT”), a publicly traded residential mortgage REIT managed by AG REIT Management, LLC, an affiliate of Angelo, Gordon & Co., L.P., a leading alternative investment firm, and Western Asset Mortgage Capital Corporation (“WMC”), a real estate investment trust, announced that they have entered into a definitive merger agreement, following WMC’s termination of its previously announced acquisition agreement with Terra Property Trust, Inc. in accordance with the terms of such agreement. Pursuant to the agreement MITT will acquire WMC in a fixed exchange ratio stock/cash transaction. Cravath is representing MITT in connection with matters related to the merger.
Deals & Cases
July 31, 2023
Cravath represented the administrative agent, joint lead arranger and joint bookrunner, in connection with a $500 million revolving credit facility made available to TripAdvisor, Inc., TripAdvisor Holdings, LLC and TripAdvisor LLC. TripAdvisor, Inc. operates as an online travel company and primarily engages in the provision of travel guidance products and services worldwide. The transaction closed on June 29, 2023.
Firm News
August 14, 2023
Between July 28 and August 11, 2023, Cravath advised on nine announced deals, including seven deals in a span of three business days. Cravath is representing:
Accolades
June 06, 2023
On May 21, 2023, Cravath partner Philip J. Boeckman was named to Financial News’ third annual “Fifty Most Influential Lawyers” list, which recognizes “the leading legal minds working in Europe on corporate deals.” The feature described Philip as having “a long and successful track record advising clients on initial public offerings, leveraged financings and other equity offerings.” The publication also highlighted his representation of HDFC Bank as U.S. counsel in its $40 billion merger with HDFC Limited, India’s largest‑ever M&A deal at the time of announcement, and of the European Investment Bank in its $4 billion registered notes offering of a Sustainability Awareness Bond.
Accolades
March 27, 2023
On March 16, 2023, Cravath was recognized by the India Business Law Journal in its “Deals of the Year 2022” feature, which highlighted “the standout deals and disputes of 2022 and the law firms that showed their worth in successfully concluding them.”
Accolades
January 20, 2023
On January 18, 2023, Cravath was featured by Law360 as an “M&A Practice Group of the Year,” receiving the distinction for the tenth time in twelve years. The profile highlighted the Firm’s role representing CyrusOne in its $15 billion acquisition by KKR and Global Infrastructure Partners, SMBC Aviation Capital in its $6.7 billion acquisition of Goshawk Aviation, and Johnson & Johnson in the planned separation of its Consumer Health Business.
Accolades
August 11, 2022
On August 5, 2022, the India Business Law Journal named Cravath among the “Significant Players” in its 2022 ranking of the top international law firms for India‑related work. The publication noted that the Firm is “consistently at the forefront of prestigious and landmark deals,” and highlighted its representation of HDFC Bank Limited in its $40 billion merger with HDFC Limited, India’s largest‑ever M&A deal at the time of announcement. The Firm was also recognized for its representation of Viatris in the $3.335 billion combination of its biosimilars portfolio with Biocon Biologics. An interviewee noted the Firm’s teams are “approachable” and “give well‑articulated, clear and easy to understand legal opinions.”
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